Table 3
Comparison of various CEO pay series
| Year | EPI options realized definition | EPI options granted definition | Frydman/Jenter | WSJ series realized direct compensation | Bebchuk/ Grinstein | Lazonick |
|---|---|---|---|---|---|---|
| 1992 | 3.2 | 2.7 | 2.5 | 3.5 | 15.2 | |
| 1993 | 3.4 | 3.0 | 2.7 | 3.0 | 14.3 | |
| 1994 | 2.8 | 3.8 | 3.4 | 3.7 | 12.7 | |
| 1995 | 3.8 | 4.2 | 3.8 | 3.0 | 4.1 | 14.7 |
| 1996 | 5.0 | 5.9 | 5.7 | 6.1 | 23.3 | |
| 1997 | 7.7 | 7.9 | 7.1 | 8.1 | 32.6 | |
| 1998 | 11.7 | 11.1 | 9.1 | 9.7 | 58.5 | |
| 1999 | 10.5 | 11.1 | 9.7 | 8.4 | 11.8 | 53.4 |
| 2000 | 14.9 | 15.3 | 14.0 | 10.5 | 16.7 | 83.2 |
| 2001 | 8.5 | 13.2 | 12.3 | 8.6 | 14.1 | 51.2 |
| 2002 | 7.7 | 9.9 | 9.5 | 5.5 | 10.3 | 31.3 |
| 2003 | 10.0 | 9.8 | 8.9 | 7.2 | 9.3 | 41.3 |
| 2004 | 11.3 | 10.3 | 9.8 | 9.6 | 47.9 | |
| 2005 | 13.7 | 10.9 | 10.1 | 11.0 | 60.3 | |
| 2006 | 15.8 | 11.3 | 11.1 | 11.8 | 63.1 | |
| 2007 | 16.5 | 11.5 | 10.7 | 12.3 | 57.4 | |
| 2008 | 16.7 | 11.1 | 10.3 | 11.1 | 39.2 | |
| 2009 | 9.6 | 9.2 | 8.9 | 29.6 | ||
| 2010 | 11.7 | 10.7 | 12.0 | 33.8 |
Note: All numbers are in millions of nominal dollars.
Sources: Compustat, Wall Street Journal, Frydman and Jenter (2010), Bebchuk and Grinstein (2005), and Lazonick (2011)
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